An operator of a public livestock auction shall notify the Department within 30 days after any change in the amount of the line of credit shown pursuant to paragraph (g) of subsection 2 of NRS 573.020, or its replacement by a line of credit at another bank or credit union in the State of Nevada and the amount of the replacement. If the line of credit is replaced, the custodial account must be transferred to the bank or credit union issuing the new line of credit. If a line of credit in the amount required is not maintained, the Director shall suspend the operator’s license.
NRS 573.105
Line of credit: Duty to notify Department of change in amount or replacement; suspension of license for failure to maintain
(Added to NRS by 1965, 383; A 1993, 1754; 1999, 1515, 3693; 2001, 91; 2015, 3613)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.